There is 3.2 acres (I know that doesn't seem like much to most of you) available directly accross the street from me. This land is very steep and not terribly attractive to builders, but for me, it means the difference between a view of cherry blossoms in the spring, or a view of R2 (two family) rental units (potentially).
They want 40k$ for the land (In our area, if the land were flat, they'd get 30-40K$ for 1/2 acre lot.) I know there is some sewer lines running through the property, but that is all I know.
What should I look out for in my process of evaluating the land for purchase? I want to make sure that I don't pay too much and find that nobody would want the land when "I" need to sell it. The difficult thing is that the area is zoned R2 and it is probably "most" usefull for cliffside "wooded view" apartments, rather than single family homes. So I think I NEED to get the land to protect my investment in my home.
They want 40k$ for the land (In our area, if the land were flat, they'd get 30-40K$ for 1/2 acre lot.) I know there is some sewer lines running through the property, but that is all I know.
What should I look out for in my process of evaluating the land for purchase? I want to make sure that I don't pay too much and find that nobody would want the land when "I" need to sell it. The difficult thing is that the area is zoned R2 and it is probably "most" usefull for cliffside "wooded view" apartments, rather than single family homes. So I think I NEED to get the land to protect my investment in my home.